Globalisation has many virtues. Chief among them, it has contributed to an unprecedented accumulation of human wealth over the past decades and has helped lift a record number of poor out of poverty. Yet globalisation has also created losers, particularly among the middle and lower classes in rich countries. Governments need to do more to help the groups most hurt.

A recent employment survey by the Organisation for Economic Co-operation and Development confirms some accepted facts: the share of output going to labour has declined over the past decade, leading to a rise in inequality within rich countries. Yet it also concluded that real wages in these countries were still rising and that globalisation can be consistent with high employment rates, given the right policies. Thus Angel Gurría, OECD secretary-general, declared: “The story has to be told better.”